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Post by IRS on Aug 10, 2018 12:23:28 GMT -5
That's a shame.
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havoc7179
Main Eventer
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Joined on: Oct 16, 2012 9:11:18 GMT -5
Posts: 4,189
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Post by havoc7179 on Aug 10, 2018 13:37:25 GMT -5
Ok. So as an attorney, I can say this much. 1) It is not uncommon for a person (say Punk) to agree to pay someone else's legal fees. In fact, in the report posted by the TC, it says Punk signed something like that. 2) It is UNCOMMON for a law firm not to have an a guarantor on that--meaning that while X agrees to pay for Y's fees, if X does not pay, Y is responsible. So, my guess is that Cabana as part of his attorney client contract understood that he would ultimately be responsible. I can't see any law firm worth its name not doing that. THat's the standard. 3) If that is all that Cabana has, he does not have much legs to stand on. That contract is between Punk and the law firm. If Punk breaches that contract, the law firm can go after both Punk and Cabana or just go after Cabana. Cabana can't really go after Punk, unless the agreement says more. But generally speaking it wouldn't. 4) Cabana needed what is called an indemnification agreement and he needed to enter into it with Punk prior to all this. It would not be part of any agreement signed with the law firm. It would state something to the effect that Punk would pay any losses Cabana incurred as a result of using this attorney. Without this, Cabana has no real standing, which is the ability to bring a claim, to file a suit against Punk--unless its an oral contract. But, it sounds like that Punk just did it as a gift to Cabana. 5) The fact that Cabana did as Punk told does not exonerate him nor does it guarantee that the lawsuit would not be filed. That's immaterial though. All that fact does is determine how liable he would have been as there would be mitigating factors involved. There's not much to the fact from a legal standpoint in a case of abreach of contract. It's an external factor. That actually is a better explanation of things. Like I said I was having trouble following all the details and may have missed something. To me it just seemed like Punk flaked on a promise. Having missed that Punk signed something, my initial reaction was that if I had sued everyone that flaked on me I’d be a billionaire. Lol LOL. But what he signed may not really matter. I can't believe a law firm as big as theirs would not get a guaranty. I mean not getting a guaranty can occur in certain instances, but it's not common. |
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Post by bababooey on Aug 10, 2018 13:58:32 GMT -5
That actually is a better explanation of things. Like I said I was having trouble following all the details and may have missed something. To me it just seemed like Punk flaked on a promise. Having missed that Punk signed something, my initial reaction was that if I had sued everyone that flaked on me I’d be a billionaire. Lol LOL. But what he signed may not really matter. I can't believe a law firm as big as theirs would not get a guaranty. I mean not getting a guaranty can occur in certain instances, but it's not common. So just a weird question. If the lawfirm doesn’t get paid, do you think they’d go after Punk and/or Cabana or sell the debt to a collections agency? |
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havoc7179
Main Eventer
What is this?
Joined on: Oct 16, 2012 9:11:18 GMT -5
Posts: 4,189
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Post by havoc7179 on Aug 10, 2018 14:31:40 GMT -5
LOL. But what he signed may not really matter. I can't believe a law firm as big as theirs would not get a guaranty. I mean not getting a guaranty can occur in certain instances, but it's not common. So just a weird question. If the lawfirm doesn’t get paid, do you think they’d go after Punk and/or Cabana or sell the debt to a collections agency? Depends. Normally, they'd go after the client ultimately responsible. If the only thing they have in that contract is CM Punk going to pay the debt, they'd have to go after CM Punk. If it is a standard contract (which is should be) it should say CM Punk agrees to pay the debt of Colt Cabana, but Colt Cabana is ultimately responsible, and at that point they'd probably go after both. It all depends on what that contract says. As far as selling it to an agency, might be difficult because of the risks since only Punk seemingly has the resources to pay. Most likely the firm would just go after the clients unless it would be a long drawn out process or the chances of recovery are too slim. It's easier to explain by example: Hypothetically: Suppose Cabana and Punk owe a total of $500,000. Together they have maybe $250k. Now the Court can rule that the $500k debt is unreasonable and reduce it, or it can say its perfectly permissible. So let's say the Court upholds the $500k debt (if it was somehow challenged). Just bc they have $250k between them doesn't mean they only have to pay $250k. Now, Colt could owe more than Punk or they could owe the same. For the purposes of this example, let's say they both have to split the difference and say they still owe $125k each. The Court can garnish their future earnings--meaning if Joe Promoter owes Colt $250 for a show, Joe pays the law firm that $250 instead of Colt. There are limits as to how much can be garnished with each earnings, but the point is, they would keep garnishing until Colt pays back the $125k. That could take an insane amount of time. A law firm may not want to wait years. But a debt collection agency may be ok with it. So, if it doesn't look like the law firm would be waiting years for the money to be paid, they'd just go after Punk and/or Cabana. If it looks like it could take a while, they'd sell it off. Take a loss, but get paid a big sum up front.But first they need that judgment. |
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Post by blissfan4life on Aug 10, 2018 15:59:03 GMT -5
 off Cabana you lousy nobody. |
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Post by PrincessOfSunlight on Aug 10, 2018 16:15:43 GMT -5
My key takeaways... 1. WWE (AKA Vince and Hunter) are the most soggyiest and ing pathetic sacks of disassociated nutsacks on earth for destroying CM Punk’s career in effect. Both during their time working together and throughout this process. The money that this has cost says it all. 2. Colt always struck me as a sunny day kinda friend. If the sun is shining on you and by association him, he’ll be your best friend and once the rain starts to fall, he’s shooting off. He’s a rat. 3. CM Punk is true to his feelings which I can relate to wholeheartedly. He should have been very aware at how much disdain existed between him and WWE (V&H) before that podcast. They tried to drown him professionally. They of course would come again and try to drown him after their split. From day one should have told Colt where to get ed for that kind of money. |
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Post by c-scope on Aug 10, 2018 17:22:00 GMT -5
Honestly more surprised by Logan paul saying he wants to fight punk in UFC than I am by this.
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Post by Controversial Maverick PUNK on Aug 10, 2018 19:47:11 GMT -5
So apparently, Cabana doesn't have a mind of his own, and can't make decisions for himself. Funny thing is, I've still haven't got around to listening to that podcast yet.
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Post by Triple S: POOR on Aug 10, 2018 20:02:42 GMT -5
Life be throwing L’s at CM Punk like...  He just won a huge case against Aman and the WWE... |
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Post by Triple S: POOR on Aug 10, 2018 20:04:29 GMT -5
off Cabana you lousy nobody. If this were a female, I can only assume this would be a far different reaction... |
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Post by Triple S: POOR on Aug 10, 2018 20:08:40 GMT -5
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Post by Planktung on Aug 10, 2018 20:23:26 GMT -5
off Cabana you lousy nobody. If this were a female, I can only assume this would be a far different reaction... I've never seen anybody reach for an argument harder than this. |
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Post by Rated [R] NinJa on Aug 10, 2018 23:04:19 GMT -5
Life be throwing L’s at CM Punk like... He just won a huge case against Aman and the WWE... He also got embarrassed and fired from the UFC and is getting sued by his former best friend 🤷🏽♂️ |
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Post by The American Daydream on Aug 11, 2018 0:15:51 GMT -5
He just won a huge case against Aman and the WWE... He also got embarrassed and fired from the UFC and is getting sued by his former best friend 🤷🏽♂️ Ls all day |
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Post by k5 on Aug 11, 2018 0:32:27 GMT -5
i’d take the rich part, but i’d leave the famous. seems like far more grief than anything.
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Post by Thought Collector on Aug 11, 2018 9:01:31 GMT -5
Honestly more surprised by Logan paul saying he wants to fight punk in UFC than I am by this. That would be the best way for Punk to start getting back uphill as far as fighting. If Punk couldn't do everyone a favor and shred that guy he might as well go into hiding and change his identity lol. |
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Post by c-scope on Aug 11, 2018 16:49:11 GMT -5
Honestly more surprised by Logan paul saying he wants to fight punk in UFC than I am by this. That would be the best way for Punk to start getting back uphill as far as fighting. If Punk couldn't do everyone a favor and shred that guy he might as well go into hiding and change his identity lol. honestly I think Logan would have a pretty good shot at beating punk cause he’s so much bigger than punk and he wrestled in high school. But he also said he wants to fight mcgregor. He’d get his ass beat in that one. Lol |
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Post by Triple S: POOR on Aug 11, 2018 19:23:47 GMT -5
If this were a female, I can only assume this would be a far different reaction... I've never seen anybody reach for an argument harder than this. No reaching. Just an observation. I’m not wrong. He also got embarrassed and fired from the UFC and is getting sued by his former best friend 🤷🏽♂️ Was he actually let go/fired from UFC? News to me... but I also don’t follow MMA at all. |
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Post by theMOESIAH on Aug 11, 2018 20:14:31 GMT -5
If this were a female, I can only assume this would be a far different reaction... I've never seen anybody reach for an argument harder than this. Then you must not be familiar with "her" posts. You can take a look at just about any post on the WWE board, "she" trolls just about everything. And he's right, btw. |
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Post by Patrick Bateman (original) on Aug 11, 2018 21:14:39 GMT -5
Sounds like CM Punk thought things weren't going to be as expensive as they became, and was pissed at his buddy. He honestly should just man up, pay it, and let the friendship end. He said himself the last lawsuit took so much out of him. It may not even be worth his time to fight it. Just pay for Colts legal fees like he original agreed to.
From Colts point of view it sounds like they sent him a cease and desist letter, that he was willing to honor, which would of ended this all. Punk told him no we should fight it (and knowing his friend doesn't make a ton of money) said he would front the bill. Then Colt went to a WWE show? To visit friends, in the middle of the lawsuit. Punk found out and was furious. And said he is no longer fronting the bill. To be fair Colt would not be in this position if Punk just would of let it die.
From Punks point of view it sounds like, he went on his friends podcast and was angry and disgruntled at WWE and the way he was treated both personally and medically. He knew it would ruffle feathers and piss people off. A cease and desist letter was sent. Punk told Colt to forget it. That they would fight it, and Punk would pay for it. Then during the lawsuit Colt went to a WWE show. Where Punk felt betrayed by his friend that he is paying a huge amount of money to protect. Punk in anger rights an email saying to pay for his half of everything. Because a real friend wouldn't do what he did. And because he's not a real friend, Punk feels o obligation to help out.
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